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| Download Speech | Specially-Invited Guests; Chairmen and Other Representatives of the Boards of Directors and Management of Public Sector Entities; Permanent Secretaries; Other Participants; Staff of the Ministry of Finance and Planning; Ladies and Gentlemen: I am extremely pleased to be associated with this Workshop and would like to take this opportunity to thank Mrs. Carol Jones - Deputy Financial Secretary - and her team from the Public Enterprises Division, for having organized this very timely event. Before proceeding, however, please allow me to join in welcoming our specially-invited presenters who are not members of the Ministry of Finance and Planning family, as their presence here confirms the importance of this occasion. I am sure that, based on their extensive knowledge and experience, their contributions - together with those of my own Ministry's representatives - will be of tremendous value to all participants, as we seek to strengthen the regulatory framework and incorporate greater accountability, transparency and other elements of good governance in our daily operations. As this audience is aware, the Ministry of Finance and Planning has a special interest in governance issues, which are consistent with our mission, which is "to ensure that Government pursues fiscal and economic policies that foster sustainable growth in the national economy, sound management of the country's financial institutions and cost effective delivery of public services". Indeed, the capacity of my Ministry and that of the entire public sector to manage the economy and deliver high quality public services, is tied directly to the prospects for overall growth and development. The creation of a strong and effective legal and regulatory environment and the establishment of minimum standards for our accounting and auditing systems are therefore critical, if we are going to ensure optimum utilization of State resources and greater accountability. I think it would be useful at this point to explain the background against which the Public Bodies Management and Accountability (PBMA) Act was developed and the rationale for introducing such legislation. | MORE |
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